Share this article
Neon EVM, an Ethereum Virtual Machine, has been launched on the Solana mainnet working to bridge the gap between Ethereum and Solana’s computing models. This will enable Ethereum DApps to utilize Solana effectively for transaction settlements:
Apply today for the Early Builders Program and be a part of the Neon EVM’s mission to revolutionize blockchain technology. https://t.co/sMj0zIzSAA #NeonEVM #Solana #Ethererum pic.twitter.com/o7n90MmDbb
— Neon EVM (@Neon_EVM) July 3, 2023
The Neon EVM smart contract, residing on Solana’s blockchain, processes wrapped Ethereum transactions, integrating the robustness of Ethereum’s DApp environment with Solana’s highly efficient infrastructure.
This design allows developers to deploy Ethereum DApps directly onto the network, using Solana’s technical capabilities while requiring minimal code reconfiguration.
In the past, cost-effectiveness for EVM DApps typically meant resorting to rollups or sidechains. The arrival of Neon EVM on Solana sets a new precedent by offering an alternative to layer 2 solutions.
Ethereum’s average transaction fee is around $2. L2s can offer a saving of 4–20 times with transaction costs falling between $0.5–$0.1. Solana, on the other hand, features an average transaction fee of a mere 0.00001 SOL (~$0.0002) per transaction – an impressive 10,000-fold saving. Neon EVM’s initial Devnet tests have already confirmed the protocol’s real-world efficacy.
“Once we repeat these tests in production, we will present the figures based on the real-world data.” Marina Guryeva, director of the Neon Foundation, stated in a statement.
The launch has also activated the Neon Decentralized Autonomous Organization (DAO), a community that will have a significant influence on the future trajectory of Neon EVM.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.